Connect with us

Don't Miss

Digitex — A Zero-Fee Crypto Futures Exchange To Launch in Q4

Published

on

Digitex
READ LATER - DOWNLOAD THIS POST AS PDF

Digitex Futures, a blockchain-oriented startup founded by Adam Todd, plans to launch its commission-free cryptocurrency futures trading exchange in the fourth quarter of 2018. The team is developing what might become a mainstream product capable of competing with major players of the crypto-oriented futures trading market. Investors will be able to open trading positions for free. The Digitex ecosystem will be fueled by DGTX, an ERC223-based token that is already available for purchase on various cryptocurrency exchanges, including Mercatox, and is listed on Coinmarketcap. The token minting makes it possible to run the exchange without charging fees.

Adam Todd, Founder & CEO of Digitex Futures

Digitex is Developed by a Talented Development Team in Dublin

After holding a successful initial coin offering, which sold out of DGTX tokens in less than 17 minutes, the Digitex team stepped up to the next major task on their roadmap – building the exchange platform. For this, Digitex has hired a six-strong team of expert developers who, since the beginning of February 2018, have been dedicated to making the product intuitive and customer orientated. The team has achieved impressive results in the last six months.

According to a Digitex from mid-July, Christina Comben visited the development team in Dublin, Ireland, and interviewed the Managing Director, Darragh Sinnott. He revealed that the most challenging part of the platform, in terms of software development, was the order-matching engine, which matches buy and sell orders for the listed assets. Besides that, making a system that runs 24/7 without crashing is also crucial. Nonetheless, the software development division plans to release the screenshots of the exchange platform by the end of the summer. The full presentation of the software will take place this November at the Malta Blockchain Summit, where Adam Todd will be a guest speaker.

The programmers have thought about worst-case scenarios to avoid any potential troubles in the future. Currently, the platform is in testing mode, but we have clear indications that we deal with a genuine futures trading exchange.

Digitex Aims to Compete with Bitmex

Even though the futures trading exchange is not live, Digitex is not afraid to challenge market giants like Bitmex – a futures-trading platform that revolves around Bitcoin. Bitmex handles a huge number of orders on a daily basis. For example, Coinmarketdata shows that Bitmex’s trading volume in the last 24 hours almost reached $6.5 billion.

Digitex will follow Bitmex’s model to a certain degree, but won’t be copying Bitmex’s fee-based revenue generation. While Bitmex is operating with Bitcoin, Digitex has developed its own token and will generate revenue by issuing a certain amount of new coins every year to cover costs, thus avoiding the need to charge traders money for transactions.

Digitex has a transformative potential thanks to its unique platform that uses independent and centralized smart contract rather than centralized account balances. The smart contract was created on Ethereum and holds all account balances. This combination of the centralized matching engine with smart contract-based account balances ensures a fast and reliable trading experience.

Get early access for zero-fee crypto futures trading.

What Should Traders Expect from Digitex’s Platform?

Initially, the exchange will launch with three cryptocurrency assets – BTC/USD, ETH/USD, and LTC/USD. Investors will be able to trade CFDs (Contracts for Difference), a type of futures contract that allows trading an asset without actually owning it. CFDs have been quite popular in the foreign exchange market (Forex), and they have become preferred by both novice and professional traders. The duration of the CFD contract will be 24 hours, and open positions will be automatically rolled over into a new contract on the next day.

As mentioned, the platform will revolve around DGTX. Thus, all account balances, margin requirements, profits, and losses, will be denominated in DGTX tokens, meaning that investors will have to own tokens prior to taking part in the trading process. This allows Digitex to maintain a demand for the tokens to eliminate the fee-based model. Instead, the exchange operator will use an autonomous token issuance system that mints a small amount token each year.

Besides providing zero-fee trading solutions, the new platform will offer a one-click trading interface, liquid futures markets automated market makers, and high-leverage trading solutions, among other features.

Some users might be concerned about scalability issues, especially because Digitex relies on Ethereum. However, this shouldn’t be a problem as the platform mixes blockchain with a centralized system. As Darragh put it:

“Scalability is an issue with Ethereum, but our order-matching engine sits on a centralized server, not on the blockchain. We’re pretty confident that we can have hundreds of thousands of users and they’ll be getting almost instantaneous responses.”

Be sure to join the waitlist to get early access to the Digitex Futures Exchange launching at the end of the year!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Don't Miss

Property Loans for Foreigners in Singapore That You Must Know About

Published

on

property loans for foreigners in Singapore
READ LATER - DOWNLOAD THIS POST AS PDF

Intending to invest in a residential or commercial property in Singapore?  

When it comes to foreigners applying for a loan in Singapore, things can be pretty hard regardless of the reason whether you need the property for personal or business purposes.  

In Singapore, buying a property is challenging, whether you are a foreigner or a native, and sometimes applying for a loan is the only way for you to afford it.  

HOW MUCH CAN YOU BORROW FOR A PROPERTY LOAN IN SINGAPORE? 

As for the Foreigner Loans, in Singapore, there is an exact amount of money you can borrow to finance the purchase of a property.  

In this sense, Singapore has the Loan to Value Ratio (LTV).  

The LTV ratio is what determines the exact amount of money you can borrow for a property loan, which changes depending on where you try to obtain the loan:  

  • If you are applying for a bank loan, you can borrow a maximum of 75% of the value of the property you want to purchase. That means if you are looking for a property that costs $500.000, the maximum amount of money a bank lender can give you like a loan in Singapore is going to be $375.000. 
  • Continue Reading

Don't Miss

CoinField Launches Sologenic Initial Exchange Offering

Published

on

Sologenic
READ LATER - DOWNLOAD THIS POST AS PDF

CoinField has started its Sologenic IEO, which is the first project to utilize the XRP Ledger for tokenizing stocks and ETFs. The sale will last for one week and will officially end on February 25, 2020, before SOLO trading begins on the platform.  Sologenic’s native token SOLO is being offered at 0.25 USDT during the IEO.   

Earlier this month, Sologenic released the very first decentralized wallet app for SOLO, XRP, and tokenized assets to support the Sologenic ecosystem. The app is available for mobile and desktop via the Apple Store and Google Play.  The desktop version is available for Windows and Mac.

“By connecting the traditional financial markets with crypto, Sologenic will bring a significant volume to the crypto markets. The role of the Sologenic ecosystem is to facilitate the trading of a wide range of asset classes such as stocks, ETFs, and precious metals using blockchain technology. Sologenic is an ecosystem where users can tokenize, trade, and spend these digital assets using SOLO cards in real-time. The ultimate goal is to make Sologenic as decentralized as possible, where CoinField’s role will be only limited…

Continue Reading

Don't Miss

Many of the Top Sports Betting Websites for 2020 Can Be Found On Boomtown’s Best Betting Page

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Sports betting is one of the widely known types of online gambling. With a large number of sports fans around the world, this type of gambling is one of the most sought after. The problem usually comes from when gamblers try to find the best sites out of the many available ones. Many new sports betting sites come up daily, thus making the selection process even harder. One of the best places to find top betting websites for sports is Boomtown Bingo. This platform doesn’t just give users the best online casino games websites, but they also cover sports betting. As such, boomtown bingo remains a one-stop-shop for everyone who needs the best and the latest online gambling and gaming sites for all types of devices.

Performance

The performance of any website is critical. Users need to find their way around the site easily, and that can be made possible with the site structure and arrangement. Loading time is also essential. A website that always hangs thus pushing the user to refresh every time is no good. These are some of the factors that Boomtown Bingo looks into when selecting the best sites for its users. You can be sure that the new sports betting websites listed on Boomtown’s platform have faster loading time, can be used easily by everyone,…

Continue Reading

Press Release